Insolvency petition based on admitted debt and default upheld; challenge for malicious initiation rejected, settlement may proceed under resolution fr...
Quashing of FIR and challenge to ECIR over alleged diversion of funds and preferential ESOP pricing dismissed after prima facie money-laundering findi...
Capital gain computation under a joint development agreement was considered with two principal issues: whether deduction for indexed cost of acquisition of land is allowable where land rights were exchanged for constructed area, and whether deduction for cost of construction is allowable though no monetary investment was made by the assessee. The tribunal applied the rule that expenditure wholly and exclusively incurred in connection with transfer and cost of acquisition and improvement must be allowed, concluding the assessee retained compensable rights and was entitled in principle to deductions for indexed acquisition and construction costs; both issues were remitted to the AO for factual verification and quantification with admission of additional evidence.
Capital gain computation under a joint development agreement was considered with two principal issues: whether deduction for indexed cost of acquisition of land is allowable where land rights were exchanged for constructed area, and whether deduction for cost of construction is allowable though no monetary investment was made by the assessee. The tribunal applied the rule that expenditure wholly and exclusively incurred in connection with transfer and cost of acquisition and improvement must be allowed, concluding the assessee retained compensable rights and was entitled in principle to deductions for indexed acquisition and construction costs; both issues were remitted to the AO for factual verification and quantification with admission of additional evidence.
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